Wesleyan Homes Inc
- Assets
- $94.9m
- Revenue
- $30.1m
- Investments
- $1.3m
- Employees
- 473
- Location
- Georgetown, TX
- Founding
- 05/1962
- Data as of
- 12/2023
- EIN
- 74-1459599
Organization Overview
Wesleyan Homes Inc is located in Georgetown, TX. The organization was established in 1962. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 12/2023, Wesleyan Homes Inc employed 473 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Wesleyan Homes Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Wesleyan Homes Inc generated $30.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $31.1m during the year ending 12/2023. While expenses have increased by 4.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE WESLEYAN IS CALLED TO CREATE A NEW, BOUNTIFUL EXPERIENCE OF AGING THAT ENSURES THAT LIFE IS LIVED ABUNDANTLY IN BODY, MIND AND SPIRIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WESLEYAN HOMES, INC. CURRENTLY OPERATES THREE FACILITIES LOCATED IN GEORGETOWN, TEXAS. (1) THE WESLEYAN AT ESTRELLA INDEPENDENT LIVING, A 240-UNIT INDEPENDENT LIVING RETIREMENT COMMUNITY, PROVIDING HOUSING, DIETARY AND OTHER RELATED SERVICES, (2) THE WESLEYAN AT ESTRELLA ASSISTED LIVING, A 84-UNIT ASSISTED LIVING RETIREMENT COMMUNITY, PROVIDING CERTIFIED MEMORY CARE SERVICES, AND (3) THE WESLEYAN SKILLED NURSING AND REHABILITATION, A 142-BED PROFESSIONAL SKILLED NURSING FACILITY PROVIDING SKILLED NURSING SERVICES FOR RESIDENTS IN THE GEORGETOWN AND SURROUNDING COMMUNITIES. SKILLED NURSING BENEFITS ARE PROVIDED REGARDLESS OF FINANCIAL CONSIDERATIONS AND QUALIFICATIONS. WESLEYAN HOMES AS A WHOLE SERVED OVER 1,000 RESIDENTS IN 2023. (4) WESLEYAN HOMES ALSO PROVIDED HOME HEALTH AND HOSPICE SERVICES DURING 2023. DUE TO ON GOING FINANCIAL LOSSES WESLEYAN CHOSE TO CLOSE ITS HOME HEALTH AND HOSPICE OPERATIONS AS OF SEPTEMBER 30, 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edmond Komandosky Immediate Past Chair | Trustee | 1 | $0 |
Gene Lawhon Board Chair | OfficerTrustee | 1 | $0 |
Rev Dr Jeff Smith Board Treasurer (ex Officio) | OfficerTrustee | 1 | $0 |
Patty Lee Vice Chair Of Board | OfficerTrustee | 1 | $0 |
William Booth Board Member | Trustee | 1 | $0 |
Richard Lacagnina Board Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morrison Community Living Dietary Services | 12/30/23 | $2,318,236 |
Bridge Construction Group Construction | 12/30/23 | $571,755 |
Excel Construction Group Construction | 12/30/23 | $438,504 |
Kare Technologies Llc Contract Nurses | 12/30/23 | $361,583 |
Cmg Cit Acquisition Llc Contract Nurses | 12/30/23 | $401,515 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $82,119 |
| Government grants | $1,305,651 |
| All other contributions, gifts, grants, and similar amounts not included above | $67,147 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,454,917 |
| Total Program Service Revenue | $27,742,360 |
| Investment income | $551,781 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$679,756 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,085,301 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $696,758 |
| Compensation of current officers, directors, key employees. | $696,758 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,719,073 |
| Pension plan accruals and contributions | $297,707 |
| Other employee benefits | $927,079 |
| Payroll taxes | $939,600 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $189,795 |
| Fees for services: Accounting | $2,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,436 |
| Fees for services: Other | $2,972,237 |
| Advertising and promotion | $403,413 |
| Office expenses | $688,768 |
| Information technology | $508,632 |
| Royalties | $0 |
| Occupancy | $912,146 |
| Travel | $37,168 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,546,552 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,717,138 |
| Insurance | $683,754 |
| All other expenses | $0 |
| Total functional expenses | $31,055,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $534,353 |
| Savings and temporary cash investments | $9,704,560 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $578,983 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $244,315 |
| Net Land, buildings, and equipment | $65,017,023 |
| Investments—publicly traded securities | $4,864,467 |
| Investments—other securities | $1,308,887 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,690,914 |
| Total assets | $94,943,502 |
| Accounts payable and accrued expenses | $4,552,791 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $74,461,403 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,170,134 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,282,987 |
| Total liabilities | $86,467,315 |
| Net assets without donor restrictions | $8,476,187 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $94,943,502 |